MCX Naturalgas, Nickel, Crudeoil, Silver, Lead Updates : 27.09.2016
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Lead bulls rule the roost
27/09/2016 15:46
Lead futures rose during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for lead, from battery-makers, in the domestic spot market.
However, the gains in the metal were curbed by soft US new home sales data which indicated a slowdown in the housing market of the world’s biggest economy, threatening to curb metal demand. US new home sales fell 7.6 per cent to a 609,000 annualized pace in August 2016.
At the MCX, lead futures for September 2016 contract is trading at Rs 129.65 per kg, up by 0.50 per cent, after opening at Rs 129, against a previous close of Rs 129. It touched the intra-day high of Rs 130.25 (at 15:37 PM).
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Natural gas falls despite upbeat demand outlook
27/09/2016 15:41
Natural gas futures fell during noon trade in the domestic market on Tuesday as investors and speculators exit positions in the energy commodity amid worries that the market remains more than adequately supplied even as latest weather forecasts suggested unusually warm temperatures across most parts of the continental US in the coming days, bolstering the demand outlook for gas-fired air conditioning.
Natural gas supplies in the US rose by 52 billion cubic feet in the week ended September 16, 2016 to 3.551 trillion cubic feet, 4 per cent higher than levels at this time a year ago and 7.5 per cent above the five-year average for this time of year.
At the MCX, natural gas futures for September 2016 contract is trading at Rs 199.5 per mmbtu, down by 0.15 per cent, after opening at Rs 200.5, against a previous close of Rs 199.8. It touched the intra-day low of Rs 199.2 (at 15:37 PM).
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Supply shortage fears prop up Nickel
27/09/2016 15:32
Nickel futures soared during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for nickel, from alloy-makers, in the domestic spot market.
The decision by authorities in Philippines ordering the suspension of 20 more mines for environmental violations, most of them nickel producers, raised concerns over shortage of supplies of the metal, given that the country is the world's top miner of nickel ore.
At the MCX, nickel futures for September 2016 contract is trading at Rs 706.5 per kg, up by 1.68 per cent, after opening at Rs 694, against a previous close of Rs 694.80. It touched the intra-day high of Rs 710.9 (at 15:29 PM).
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27/09/2016 15:22
Crude oil futures were trading lower during the afternoon trade in the domestic market on Tuesday as investors and speculators trimmed their positions in the energy commodity ahead of an informal meeting of top oil producers to discuss measures to stabilize oil prices including a possible production freeze, to help ease a global supply glut.
Analysts see slim chances of producers agreeing to a deal to curb output with Iran on Monday downplaying the prospects of such a move but others including the UAE and Algeria seemed more confident.
At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,020 per barrel, down by 2.04 per cent, after opening at Rs 3,062, against a previous close of Rs 3,083. It touched the intra-day low of Rs 3,013 (at 15:12 hours).
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27/09/2016 15:07
Silver futures fell during noon trade in the domestic market on Tuesday as investors and speculators cut positions in the precious metal amid dimming safe haven appeal for the bullion after Democrat US Presidential hopeful Hillary Clinton emerged as a clear winner in the first US Presidential debate, rattling Republican nominee Donald Trump who is seen as a negative for the financial markets.
Several opinion polls suggested that it was Clinton who probably came out on top after the first Presidential debate, bolstering appetite for risky assets and reducing demand for safe havens. A closely watched poll of debate watchers by CNN/ORC found that 62 per cent thought Clinton won and only 27 per cent thought Trump took round one.
At the MCX, silver futures for December 2016 contract is trading at Rs 46,292 per kg, down by 0.45 per cent, after opening at Rs 46,311, against a previous close of Rs 46,501. It touched the intra-day low of Rs 46,216 (at 15:03 PM).
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Lead bulls rule the roost
27/09/2016 15:46
Lead futures rose during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for lead, from battery-makers, in the domestic spot market.
However, the gains in the metal were curbed by soft US new home sales data which indicated a slowdown in the housing market of the world’s biggest economy, threatening to curb metal demand. US new home sales fell 7.6 per cent to a 609,000 annualized pace in August 2016.
At the MCX, lead futures for September 2016 contract is trading at Rs 129.65 per kg, up by 0.50 per cent, after opening at Rs 129, against a previous close of Rs 129. It touched the intra-day high of Rs 130.25 (at 15:37 PM).
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Natural gas falls despite upbeat demand outlook
27/09/2016 15:41
Natural gas futures fell during noon trade in the domestic market on Tuesday as investors and speculators exit positions in the energy commodity amid worries that the market remains more than adequately supplied even as latest weather forecasts suggested unusually warm temperatures across most parts of the continental US in the coming days, bolstering the demand outlook for gas-fired air conditioning.
Natural gas supplies in the US rose by 52 billion cubic feet in the week ended September 16, 2016 to 3.551 trillion cubic feet, 4 per cent higher than levels at this time a year ago and 7.5 per cent above the five-year average for this time of year.
At the MCX, natural gas futures for September 2016 contract is trading at Rs 199.5 per mmbtu, down by 0.15 per cent, after opening at Rs 200.5, against a previous close of Rs 199.8. It touched the intra-day low of Rs 199.2 (at 15:37 PM).
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27/09/2016 15:32
Nickel futures soared during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for nickel, from alloy-makers, in the domestic spot market.
The decision by authorities in Philippines ordering the suspension of 20 more mines for environmental violations, most of them nickel producers, raised concerns over shortage of supplies of the metal, given that the country is the world's top miner of nickel ore.
At the MCX, nickel futures for September 2016 contract is trading at Rs 706.5 per kg, up by 1.68 per cent, after opening at Rs 694, against a previous close of Rs 694.80. It touched the intra-day high of Rs 710.9 (at 15:29 PM).
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Crude oil futures drop 2.04% ahead of OPEC meet27/09/2016 15:22
Crude oil futures were trading lower during the afternoon trade in the domestic market on Tuesday as investors and speculators trimmed their positions in the energy commodity ahead of an informal meeting of top oil producers to discuss measures to stabilize oil prices including a possible production freeze, to help ease a global supply glut.
Analysts see slim chances of producers agreeing to a deal to curb output with Iran on Monday downplaying the prospects of such a move but others including the UAE and Algeria seemed more confident.
At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,020 per barrel, down by 2.04 per cent, after opening at Rs 3,062, against a previous close of Rs 3,083. It touched the intra-day low of Rs 3,013 (at 15:12 hours).
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Silver lower on reduced safe haven lure27/09/2016 15:07
Silver futures fell during noon trade in the domestic market on Tuesday as investors and speculators cut positions in the precious metal amid dimming safe haven appeal for the bullion after Democrat US Presidential hopeful Hillary Clinton emerged as a clear winner in the first US Presidential debate, rattling Republican nominee Donald Trump who is seen as a negative for the financial markets.
Several opinion polls suggested that it was Clinton who probably came out on top after the first Presidential debate, bolstering appetite for risky assets and reducing demand for safe havens. A closely watched poll of debate watchers by CNN/ORC found that 62 per cent thought Clinton won and only 27 per cent thought Trump took round one.
At the MCX, silver futures for December 2016 contract is trading at Rs 46,292 per kg, down by 0.45 per cent, after opening at Rs 46,311, against a previous close of Rs 46,501. It touched the intra-day low of Rs 46,216 (at 15:03 PM).
